French SWF to invest in Valeo

From FT: France’s strategic investment fund, launched in October by Nicolas Sarkozy, the president, to bolster the country’s industry and protect it from foreign predators, will on Wednesday take a stake in the country’s biggest car equipment supplier, which is under pressure from a US activist investor.

The €6bn ($8bn) sovereign wealth fund is expected to launch several investments over the next few weeks in strategic companies large and small by taking a stake in Valeo, the car parts maker that is 19.75 per cent held by New York-based activist Pardus….. Full Article: Source